Do Not Sell My Personal Information
Connect with us

Newcastle United

Sheffield Wednesday’s financial accounts reveal how much Newcastle paid for Steve Bruce



Sheffield Wednesday’s long overdue financial accounts for the year ending July 31, 2019 have arrived – and they’re certainly eye-opening to many.

The accounts were due several months ago, despite being given a reprieve thanks to a government-imposed delay due to COVID-19, but they were still yet to be filed as of last week, where Owls owner Dejphon Chansiri was asked about the situation.

Chansiri stated that there were no issues with the accounts, and some eight days later they have finally been made public.

Their turnover was down £2.5 million on the previous year, but ‘cost of sales’ meant that the club had lost £6 million less over that period.

More interesting figures came in the form of a total profit for the financial year of £19 million – which happened due to the controversial sale of Hillsborough to Chansiri-owned company ‘Sheffield 3’.

The club would have made a loss of £19 million instead if not for that deal, but one other figure stood out on the balance sheet.

Sheffield Wednesday quiz: Was it Adam Reach or Tom Lees who have done these 15 things?

1 of 15

Used to play for Leeds?

A ‘confidential settlement payment’ worth nearly £6.5 million was reported, and judging by the timing of the accounts this has been figured out as the compensation package paid by Newcastle United to take Steve Bruce and his coaching staff Steve Agnew and Stephen Clemence away from Hillsborough.

Bruce left the Owls just two weeks before the financial year ended, and it looks like the figure that the Magpies paid for his and his staff’s services was well-needed, along with the stadium sale.

The Verdict

Sheffield Wednesday and Newcastle fans have probably united in disbelief at the price that it cost for Mike Ashley to prize Bruce away from the Owls.

Considering hardly any Newcastle fans wanted him as manager, they’re going to be even angrier and baffled at the compensation figure – but there will probably be a far different feeling in S6.

That is one of potential shock, but it’s one of the only good numbers to read for Wednesday fans as far as their accounts go, as there’s not much more positive numbers to look at.

25 years old, UCLan Sports Journalism graduate, Preston North End fan

ScoopDragon Football News Network

Article title: Sheffield Wednesday’s financial accounts reveal how much Newcastle paid for Steve Bruce

Please leave feedback to help us improve the site: